Silicon Motion Technology Co. (NASDAQ:SIMO) Expected to Announce Earnings of $1.69 Per Share

Equities analysts forecast that Silicon Motion Technology Co. (NASDAQ:SIMOGet Rating) will post earnings of $1.69 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Silicon Motion Technology’s earnings. The highest EPS estimate is $1.75 and the lowest is $1.59. Silicon Motion Technology posted earnings of $1.50 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.7%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Silicon Motion Technology will report full year earnings of $6.50 per share for the current year, with EPS estimates ranging from $2.07 to $8.03. For the next fiscal year, analysts forecast that the business will post earnings of $6.93 per share, with EPS estimates ranging from $1.57 to $9.60. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Silicon Motion Technology.

Silicon Motion Technology (NASDAQ:SIMOGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The semiconductor producer reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.19. Silicon Motion Technology had a net margin of 22.42% and a return on equity of 33.47%. The company had revenue of $242.00 million during the quarter, compared to the consensus estimate of $239.46 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 32.7% on a year-over-year basis.

A number of equities analysts have recently weighed in on SIMO shares. StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, May 25th. Zacks Investment Research cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research note on Monday, May 30th. Susquehanna cut shares of Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research note on Thursday, May 5th. Susquehanna Bancshares cut shares of Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research note on Thursday, May 5th. Finally, Roth Capital lowered shares of Silicon Motion Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, May 5th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.38.

Shares of SIMO opened at $91.74 on Friday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.36 and a beta of 1.00. The company’s fifty day moving average is $82.21 and its two-hundred day moving average is $80.67. Silicon Motion Technology has a 1 year low of $58.86 and a 1 year high of $98.65.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Wednesday, May 11th. Silicon Motion Technology’s payout ratio is 31.44%.

A number of large investors have recently added to or reduced their stakes in SIMO. Goldman Sachs Group Inc. lifted its holdings in Silicon Motion Technology by 1,109.1% in the 3rd quarter. Goldman Sachs Group Inc. now owns 262,831 shares of the semiconductor producer’s stock worth $18,130,000 after purchasing an additional 241,093 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Silicon Motion Technology by 1.7% during the third quarter. Geode Capital Management LLC now owns 22,677 shares of the semiconductor producer’s stock valued at $1,564,000 after purchasing an additional 382 shares during the period. Schroder Investment Management Group increased its position in shares of Silicon Motion Technology by 2,851.5% during the third quarter. Schroder Investment Management Group now owns 436,618 shares of the semiconductor producer’s stock valued at $7,530,000 after purchasing an additional 421,825 shares during the period. Trexquant Investment LP bought a new stake in shares of Silicon Motion Technology during the third quarter valued at approximately $530,000. Finally, Quadrature Capital Ltd increased its position in shares of Silicon Motion Technology by 77.4% during the third quarter. Quadrature Capital Ltd now owns 36,555 shares of the semiconductor producer’s stock valued at $2,523,000 after purchasing an additional 15,953 shares during the period. 76.60% of the stock is currently owned by hedge funds and other institutional investors.

Silicon Motion Technology Company Profile (Get Rating)

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.

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